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Absolute Software Reports Fiscal 2013 Year-End and Fourth Quarter Results



  Absolute Software Reports Fiscal 2013 Year-End and Fourth Quarter Results

PR Newswire

VANCOUVER, Aug. 12, 2013

Year ends with strong momentum as Absolute delivers record quarterly Sales
Contracts

VANCOUVER, Aug. 12, 2013 /PRNewswire/ - Absolute® Software Corporation
("Absolute" or the "Company") (TSX: ABT), the industry standard for persistent
endpoint security and management solutions for computers, laptops and
ultra-portable devices today announced its financial results for the three
months and year ended June 30, 2013. All financial statements are prepared in
accordance with International Financial Reporting Standards ("IFRS") and
reported in U.S. dollars.

                                    Q4      Q4      %                     %
Key Financial Metrics              F2013   F2012  change F2013   F2012  change
Sales Contracts^(1)                $26.2M  $23.8M   +10% $88.3M  $88.7M     0%
Cash from operating activities      $3.2M   $4.7M  (33%) $17.5M  $18.9M   (7%)
Operating cash per share^(2)                                                  
   (basic) ^                        $0.08   $0.11  (27%)  $0.41   $0.44   (7%)
   (diluted)                        $0.07   $0.10  (30%)  $0.41   $0.43   (5%)
Revenue                            $22.0M  $19.5M   +13% $83.2M  $74.6M   +12%
Adjusted EBITDA^(3)                 $3.2M   $2.0M   +58% $11.7M  $11.7M     0%
Net income (loss)                   $0.4M $(2.4)M     nm  $1.7M $(1.4)M     nm
Net income (loss) per share
   (basic)                          $0.01 $(0.05)     nm  $0.04 $(0.03)     nm
   (diluted)                        $0.01 $(0.05)     nm  $0.04 $(0.03)     nm
Dividends paid                      $2.0M     Nil     nm  $4.1M     Nil     nm
   Per share (CAD)                  $0.05     Nil     nm  $0.10     Nil     nm
Cash, cash equivalents and
investments                        $62.9M  $69.9M  (10%)                      
Deferred revenue                  $130.6M $125.2M    +4%                      

(1)(2)(3) - Please refer to "Non-IFRS Measures and Definitions"

Q4 F2013 Highlights:

  * Achieved record Sales Contracts of $26.2 million
  * Sales Contracts grew in every market vertical, driving a total
    year-over-year increase of 10%
  * Commercial Sales Contracts increased by 10%
  * Device Management and Data Security Sales Contracts increased by 15% while
    sales of Theft Management products increased 8%
  * International Sales Contracts increased by 46%, driven by strong demand in
    the education vertical
  * Cash from Operating Activities was $3.2 million
  * Paid a quarterly dividend of $2.0 million, or CAD$0.05 per common share
  * Announced a global partnership with Samsung Electronics to provide
    enterprise mobility management and theft protection to GALAXY S4 mobile
    devices
  * Launched first-to-market Mobile Theft Management for Apple iPad^® and iPad
    Mini devices
  * Launched first-to-market consumer theft recovery solution for Android
    Smartphones
  * Enhanced data protection portfolio with the acquisition of data security
    and data loss prevention assets from Palisade Systems
  * Announced positive movement in the Visionaries Quadrant of the Gartner
    Magic Quadrant for Client Management Tools and achieved positioning in the
    Niche Quadrant of the Gartner Magic Quadrant for Mobile Device Management
    Software. Absolute is now one of only four vendors who are positioned in
    both of these Magic Quadrants

Fiscal 2013 Highlights:

  * Total Sales Contracts were flat year-over-year
  * Commercial Sales Contracts increased by 1%
  * Device Management and Data Security Sales Contracts increased by 23% while
    sales of Theft Management products decreased by 8%
  * International Sales Contracts increased by 2%
  * Cash from Operating Activities was $17.5 million, down from $18.9 million
  * Initiated a quarterly dividend policy and paid quarterly dividends
    totaling $4.1 million
  * Announced a $3.5 million Computrace sale to a Fortune 100 healthcare
    industry customer
  * Extended Absolute's persistent technology to Samsung's flagship GALAXY
    smartphone and tablet platforms, and to Dell, HP, Lenovo, Panasonic and
    Fujitsu tablet platforms
  * Broadened management product line with the acquisition of LiveTime
    Software, a SaaS and on-premise IT Service Management provider
  * Announced the appointment of Thomas Kenny to the role of Executive Vice
    President and General Manager of Global Sales and Marketing
  * Awarded a new patent for a "Persistent Servicing Agent" that includes
    services such as remote data deletion

"In fiscal 2013, we made two acquisitions, enhanced our product portfolio and
achieved important strategic initiatives with Apple and Samsung. This
demonstrates that we continue to successfully transition from a legacy PC
services business to a uniquely positioned PC, tablet and smartphone security
and management services company," said John Livingston, CEO of Absolute.
"Reflecting this transition, our Q4 financial results show that we ended the
year with strong momentum throughout the business. We delivered growth in each
of our commercial markets, in both our theft management and device management
and data security product groups, and in international markets. In fiscal
2014, our focus is to maintain this momentum and to execute on our sales plan
to drive further growth."

F2013 Year-End and Q4 Financial Review
F2013 Sales Contracts remained relatively flat at $88.3 million compared to
$88.7 million in F2012. For Q4-2013, Sales Contracts were $26.2 million, up
10% from $23.8 million in Q4-F2012.

Commercial Sales Contracts for Absolute's flagship theft management products
were $52.8 million for F2013. This was down 8% from $57.3 million in F2012.
For Q4-F2013, commercial Sales Contracts for theft management products were
$16.8 million, up 8% from $15.6 million in Q4-F2012.

F2013 commercial Sales Contracts from Absolute's device management and data
security products were $29.6 million. This was up 23% compared to $24.1
million for F2012. For Q4-F2013, commercial Sales Contracts from Absolute's
device management and data security products were $8.2 million, up 15% from
$7.1 million in Q4-F2012.

International Sales Contracts remained relatively flat at $10.9 million in
F2013 compared to $10.6 million in F2012. Driven by strong demand in the
education vertical, international Sales Contracts were $2.8 million for
Q4-F2013, up 46% from $1.9 million in Q4-F2012.

For F2013, Sales Contracts for consumer solutions were $5.9 million, or 7% of
Sales Contracts, compared to $7.2 million, or 8% of Sales Contracts in F2012.
For Q4-F2013, Sales Contracts for consumer solutions were $1.2 million, or 4%
of Sales Contracts, compared to $1.1 million, or 5% of Sales Contracts in
Q4-F2013.

Revenue for F2013 was $83.2 million, a 12% increase from $74.6 million in
F2012. For Q4-F2013, revenue was $22.0 million, up 13% from $19.5 million in
Q4-F2012. Indicative of the Company's Software-as-a-Service Model ("SaaS")
business model, revenue primarily represents the amortization of deferred
revenue balances from recurring term license sales. For F2013, 76% of revenue
was related to the drawdown of deferred revenue balances accumulated to the
end of the prior fiscal year.

Adjusted Operating Expenses for F2013 were $71.4 million, up 14% from $62.9
million in F2012.  The year-over-year change was primarily due to increased
investment levels in sales and marketing and research and development that
were initiated toward the end of F2012 to support the Company's long term
growth initiatives. Adjusted Operating Expenses for Q4-F2013 were $18.8
million, up 7% from $17.5 million in Q4-F2012.

Absolute generated Adjusted EBITDA of $11.7 million in F2013, which was flat
compared to Adjusted EBITDA of $11.7 million in F2012. For Q4-F2013, Adjusted
EBITDA was $3.2 million, up 58% from $2.0 million in Q4-F2012, reflecting a
greater increase in revenue relative to expenses.

Absolute recorded net income of $1.7 million, or $0.04 per share, in F2013,
compared to a net loss of $1.4 million, or $(0.03) per share, in F2012.
Absolute generated net income of $0.4 million, or $0.01 per share, in
Q4-F2013, compared to a net loss of $2.4 million, or $(0.05) per share, in
Q4-F2012.

Cash from operating activities was $17.5 million for F2013, down 7% from $18.9
million in F2012. Cash from operating activities for Q4-F2013 decreased 33% to
$3.2 million from $4.7 million in Q4-F2012.

In F2013, Absolute initiated a dividend policy of CAD$0.05 per share paid
quarterly. During F2013, Absolute paid total dividends of $4.1 million
compared to nil in F2012.

At June 30, 2013, Absolute had cash, cash equivalents and investments of $62.9
million compared to $69.9 million at June 30, 2012.

F2014 Outlook
We remain confident in the market opportunity for our solutions and intend to
make continued investments, particularly in the key areas of sales and
marketing and research and development, in order to fully capitalize on this
opportunity. For F2014, we expect Sales Contracts to increase over F2013
levels and for cash generated from operating activities to grow modestly from
F2013 levels.

Quarterly and Annual Filings
Management's discussion and analysis ("MD&A"), consolidated financial
statements and notes thereto for Q4 and fiscal 2013 can be obtained today from
Absolute's corporate website at www.absolute.com. The documents will also be
available at www.sedar.com.

Notice of Conference Call
Absolute Software will hold a conference call to discuss the Company's Q4 and
fiscal 2013 results on Monday, August 12, 2013 at 2:00 p.m. PT (5:00 p.m. ET).
All interested parties can join the call by dialing
416-764-8609 or 1-888-390-0605. Please dial-in 15 minutes prior to the call to
secure a line.  The conference call will be archived for replay until Monday,
August 19, 2013 at midnight.

A live audio webcast of the conference call will be available at
www.absolute.com and www.newswire.ca.  Please connect at least 15 minutes
prior to the conference call to ensure adequate time for any software download
that may be required to join the webcast.  An archived replay of the webcast
will be available for 365 days at www.newswire.ca. To access the archived
conference call, please dial 416-764-8677 or 1-888-390-0541 enter the
reservation code 30030822.

Non-IFRS Measures and Definitions
Throughout this press release, we refer to a number of measures which we
believe are meaningful in the assessment of the Company's performance. All
these metrics are non-standard measures under International Financial
Reporting Standards ("IFRS"), and are unlikely to be comparable to similarly
titled measures reported by other companies. Readers are cautioned that the
disclosure of these items is meant to add to, and not replace, the discussion
of financial results or cash flows from operations as determined in accordance
with IFRS.  For a discussion of the purpose of these non-IFRS measures, please
refer to the Company's Fiscal 2013 Q4 MD&A on SEDAR at www.SEDAR.com.

These measures, as well as their method of calculation or reconciliation to
IFRS measures, are as follows:

1) Sales Contracts

See the "Subscription Business Model" section of the MD&A for a detailed
discussion of why we believe Sales Contracts (also known as "bookings")
provide a meaningful performance metric.  Sales Contracts are included in
deferred revenue (see Note 11 of the Notes to the Consolidated Financial
Statements), and result from invoiced sales of our products and services.

2) Basic and diluted Cash from Operating Activities per share

As a result of the nature of our revenues (please refer to "Subscription
Business Model" in the MD&A), we use Cash from Operating Activities as a
measure of profitability. Accordingly, we believe that Cash from Operating
Activities per share is a meaningful indicator of profitability per share.
Cash from Operating Activities per share is calculated by dividing Cash from
Operating Activities by the average number of shares outstanding for the
period (basic), or using the treasury stock method (diluted).

3) Adjusted Operating Expenses

A number of significant non-cash expenses are reported in our Cost of Revenue
and Operating Expenses.  Management believes that analyzing these expenses
exclusive of these non-cash items provides a useful measure of the cash
invested in the operations of its business. The non-cash items excluded in the
determination of Adjusted Operating Expenses are share-based compensation,
amortization of acquired intangible assets, and amortization of property and
equipment. For a description of the reasons these items are adjusted, please
refer to the Fiscal 2013 MD&A.

4) Adjusted EBITDA

Management believes that analyzing operating results exclusive of significant
non-cash items provides a useful measure of the Company's performance. The
term Adjusted EBITDA refers to earnings before deducting interest and
investment gains (losses), income taxes, amortization of acquired intangible
asset and property and equipment, foreign exchange gain or loss, and
share-based compensation.  The non-cash items excluded in the determination of
Adjusted EBITDA include share-based compensation, amortization of acquired
intangibles, and amortization of property and equipment.

5) Theft Management products

Management defines the Company's theft management product line as Computrace
products that include an investigations and recovery services component.

6) Device Management and Data Security products

Management defines the Company's device management and data security product
line as are defined as our Absolute Manage and Absolute Secure Drive products,
as well as Computrace products that do not include an investigations and
recovery services component (for example, Absolute Track and Computrace Data
Protection).

About Absolute Software
Absolute Software Corporation (TSX: ABT) is the industry standard in
persistent endpoint security and management for computers, laptops, tablets
and smartphones. The Company, a leader in device security and management
tracking for 20 years, has over 30,000 commercial customers worldwide.
Absolute's solutions - Computrace^®, Absolute Manage^®, Absolute Service,
Absolute Secure Drive, and Computrace LoJack^® for Laptops - provide
organizations with actionable intelligence to prove compliance, securely
manage BYOD, and deliver comprehensive visibility and control over all of
their devices and data. Absolute is positioned on two Gartner, Inc. Magic
Quadrants - the Magic Quadrant for Client Management Tools and the Magic
Quadrant for Mobile Device Management Software. Absolute is one of only four
vendors to be recognized on both Magic Quadrants based on providing customers
with the ability to secure and manage many different types of devices using a
single solution. Absolute persistence technology is embedded in the firmware
of computers, netbooks, tablets and smartphones by global leaders, including
Acer, ASUS, Dell, Fujitsu, HP, Lenovo, Motion, Panasonic, Samsung, and
Toshiba, and the Company has reselling partnerships with these OEMs and
others, including Apple. For more information about Absolute Software, visit
www.absolute.com.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks and
uncertainties. These forward-looking statements relate to, among other things,
the expected performance, functionality and availability of our services and
products, and other expectations, intentions and plans contained in this press
release that are not historical fact. When used in this press release, the
words "plan," "expect," "believe," and similar expressions generally identify
forward-looking statements. These statements reflect our current expectations.
They are subject to a number of risks and uncertainties, including, but not
limited to, changes in technology and general market conditions. In light of
the many risks and uncertainties you should understand that we cannot assure
you that the forward-looking statements contained in this press release will
be realized. Furthermore, the forward-looking statements contained in this
press release are made as at the date hereof and the Company does not
undertake any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.

©2013 Absolute Software Corporation. All rights reserved. Computrace and
Absolute are registered trademarks of Absolute Software Corporation. LoJack is
a registered trademark of LoJack Corporation, used under license by Absolute
Software Corporation. LoJack Corporation is not responsible for any content
herein. U.S. patents No. 5,715,174, No. 5,764,892, No. 5,802,280, No.
5,896,497, No. 6,087,937, No. 6,244,758, No. 6,269,392, No. 6,300,863, No.
6,507,914, No. 7,818,557, No. 7,818,803, No. 7,945,709, No. 8,062,380, No.
8,234,359, No. 8,241,369, No. 8,307,055, No. 8,332,953 and No. 8,418,226.
Canadian patents No. 2,211,735, No. 2,284,806, No. 2,205,370 and No.
2,771,208. U.K. patents No. EP0793823, No. GB2298302, and No. GB2338101.
German patent No. 69512534. Australian patent No. 699045. Japanese patent No.
JP4067035. The Toronto Stock Exchange has neither approved nor disapproved of
the information contained in this news release.

ABSOLUTE SOFTWARE CORPORATION
Consolidated Statements of Financial Position
(Expressed in United States dollars) (Unaudited)

------------------------------------------------------------------------------

                                   June 30, 2013   June 30, 2012
                                                                
ASSETS                                                          
                                                                
CURRENT                                                         
  Cash and cash equivalents        $  31,114,998  $   45,412,147
  Short-term investments              13,165,606       8,642,435
  Trade and other receivables         18,196,955      18,105,369
  Prepaid expenses and other           1,712,988       2,010,165
                                      64,190,547      74,170,116
INVESTMENTS                           18,639,550      15,875,256
PROPERTY AND EQUIPMENT                 1,294,249       1,561,495
DEFERRED INCOME TAX ASSETS            20,340,047      19,848,221
INTANGIBLE ASSETS AND GOODWILL        21,933,959      18,256,872
                                  $  126,398,352   $ 129,711,960
                                                                
LIABILITIES                                                     
                                                                
CURRENT                                                         
  Trade and other payables       $     8,943,682 $     7,016,921
  Acquisition payable - LANrev                 -       1,657,949
  Accrued warranty                       420,000         590,000
  Deferred revenue - current          68,093,937      63,173,264
                                      77,457,619      72,438,134
DEFERRED REVENUE                      62,542,619      62,038,434
                                     140,000,238     134,476,568
COMMITTMENTS                                                    
CONTINGENCIES                                                   
                                                                
SHAREHOLDERS' DEFICIENCY                                        
  Share capital                       41,690,749      38,625,463
  Equity reserve                      36,542,921      35,751,185
  Deficit                           (91,835,556)    (79,141,256)
                                    (13,601,886)     (4,764,608)
                                   $ 126,398,352   $ 129,711,960
                                  

ABSOLUTE SOFTWARE CORPORATION
Consolidated Statements of Operations and Comprehensive Income (Loss)
Three months and year ended June 30, 2013 and 2012
(Expressed in United States dollars) (Unaudited)

------------------------------------------------------------------------------

                             Three months ended             Year ended
                                  June 30,                   June 30,
                             2013         2012          2013         2012
                                                                              
                                                                              
REVENUE                  $ 21,984,411  $ 19,529,188 $ 83,178,357 $  74,564,704
                                                                              
COST OF REVENUE             4,695,735     4,772,790   19,726,415    19,701,385
                                                                              
GROSS MARGIN               17,288,676    14,756,398   63,451,942    54,863,319
                                                                              
OPERATING EXPENSES                                                            
     Sales and          
     marketing             10,035,529     9,384,732   38,682,386    33,213,549
     Research and       
     development            3,007,752     3,135,099   11,428,539     9,371,694
     General and        
     administration         2,434,695     1,889,564    8,654,165     7,204,407
     Share-based        
     compensation             553,926       594,921    2,295,051     2,478,178
                           16,031,902    15,004,316   61,060,141    52,267,828
                                                                              
OPERATING INCOME        
(LOSS)                      1,256,774     (247,918)    2,391,801     2,595,491
                                                                              
OTHER (EXPENSE) INCOME                                                        
     Interest income,   
     net                       33,871       177,714      182,206       591,365
     Foreign exchange   
     (loss) gain            (148,896)     (622,210)      (1,711)   (1,263,571)
     (Loss) gain on     
     investments                    -      (78,740)     (29,627)        30,078
                            (115,025)     (523,236)      150,868     (642,128)
                                                                              
NET INCOME (LOSS)       
BEFORE INCOME TAXES         1,141,749     (771,154)    2,542,669     1,953,363
                                                                              
INCOME TAX EXPENSE          (693,824)   (1,629,310)    (804,217)   (3,369,249)
                                                                              
NET INCOME (LOSS) AND   
COMPREHENSIVE INCOME                            $            $             $  
(LOSS)                    $   447,925   (2,400,464)    1,738,452   (1,415,886)
                                                                              
BASIC AND DILUTED       
INCOME (LOSS) PER                                            $             $  
SHARE                       $    0.01    $   (0.05)         0.04        (0.03)
                                                                              
WEIGHTED AVERAGE        
NUMBER OF COMMON
SHARES OUTSTANDING,
BASIC                      41,832,793    43,707,358   42,345,547    43,428,911
                                                     

ABSOLUTE SOFTWARE CORPORATION
Consolidated Statements of Changes in Shareholders' Deficiency
(Expressed in United States dollars) (Unaudited)

------------------------------------------------------------------------------

                    Share Capital                                             
                Number of
                 Common                    Equity
                 shares       Amount      reserve      Deficit       Total
                                                                              
BALANCE, JUNE                                                   $          $  
30, 2011        43,680,498 $ 34,640,517 $ 34,431,802 (74,766,754)  (5,694,435)
Shares issued
on options
exercised          739,037    3,713,432  (1,158,795)            -    2,554,637
Shares issued
under Employee
Share Purchase
Plan               175,102      597,531            -            -      597,531
Shares
repurchased
and cancelled
under the
Normal Course
Issuer Bid     (1,003,500)  (1,153,451)            -  (2,958,616)  (4,112,067)
Shares issued
on acquisition     166,666      827,434     -                   -      827,434
Share-based
compensation
expense                  -            -    2,478,178            -    2,478,178
Net loss and
total
comprehensive
loss                     -            -            -  (1,415,886)  (1,415,886)
BALANCE, JUNE                                                   $            $
30, 2012        43,757,803 $ 38,625,463 $ 35,751,185 (79,141,256)  (4,764,608)
Shares issued
on options
exercised          796,636    4,816,877  (1,503,315)            -    3,313,562
Shares issued
under Employee
Share Purchase
Plan               144,046      612,121            -            -      612,121
Shares
repurchased
and cancelled
under the
Normal Course
Issuer Bid     (2,812,900)  (3,191,146)            - (10,314,109) (13,505,255)
Shares issued
on acquisition     166,668      827,434     -                   -      827,434
Share-based
compensation
expense                  -            -    2,295,051            -    2,295,051
Dividends paid           -            -            -  (4,118,643)  (4,118,643)
Net income and
total
comprehensive
income                   -            -            -    1,738,452    1,738,452
BALANCE, JUNE                                                   $            $
30, 2013        42,052,253 $ 41,690,749 $ 36,542,921 (91,835,556) (13,601,886)
                                                                   

ABSOLUTE SOFTWARE CORPORATION
Consolidated Statements of Cash Flows
Three months and year ended June 30, 2013 and 2012
(Expressed in United States dollars) (Unaudited)

------------------------------------------------------------------------------

                          Three months ended               Year ended
                               June 30,                     June 30,
                         2013           2012          2013           2012
                                                                              
OPERATING ACTIVITIES                                                          
  Net income (loss)    $   447,925 $  (2,400,464) $   1,738,452 $  (1,415,886)
  Items not
  involving cash                                                              
    Amortization of
    property and
    equipment              288,003        345,367     1,294,326      1,269,694
    Amortization of
    acquired
    intangible
    assets               1,093,716      1,328,350     5,755,100      5,370,169
    Amortization of
    intangible
    assets -
    contract costs
    and brand            1,587,154      1,446,251     6,022,219      5,618,676
    Share-based
    compensation           553,926        594,921     2,295,051      2,478,178
    Deferred income
    taxes                  549,350      1,389,310     (491,826)        997,249
    Loss (gain) on
    investments                  -         78,740        29,627       (30,078)
    Unrealized
    foreign exchange
    loss (gain)                  -        252,084     (277,892)      1,237,311
    Non-cash
    interest and
    amortization
    of investment
    premium                  3,901        236,356       274,233        379,386
  Change in non-cash
  working capital                                                             
    Trade and other
    receivables        (4,996,872)      (774,615)        80,249    (1,901,526)
    Prepaid expenses
    and other             (76,111)      (272,498)       297,177      (569,799)
    Intangible
    assets -
    contract costs
    and brand
    additions          (1,780,918)    (1,697,980)   (6,574,406)    (6,414,256)
    Trade and other
    payables             1,359,016       (28,907)     2,111,353    (1,866,485)
    Accrued warranty      (56,000)       (40,000)     (170,000)      (290,000)
    Deferred revenue     4,181,991      4,280,140     5,139,857     14,032,861
                                                                              
CASH FROM OPERATING
ACTIVITIES               3,155,081      4,737,055    17,523,520     18,895,494
INVESTING ACTIVITIES                                                          
  Purchase of
  property and
  equipment              (221,724)      (437,608)     (948,322)      (929,040)
  Acquisition of
  LiveTime                       -              -   (8,000,000)              -
  Acquisition of
  Palisade               (675,000)              -     (675,000)              -
  Purchase of
  intangible assets                      (50,000)      (25,000)      (350,069)
  Acquisition
  payable                        -              -     (833,333)      (833,333)
  Proceeds from
  sales and
  maturities of
  short-term
  investments           15,450,000     10,067,870    23,489,727     16,101,051
  Purchase of
  short-term
  investments          (9,329,984)      (125,000)  (24,609,984)      (355,752)
  Purchase of
  investments          (6,190,335)   (16,046,523)   (6,190,335)   (16,046,523)
                                                                              
CASH USED IN
INVESTING ACTIVITIES     (967,043)    (6,591,261)  (17,792,247)    (2,413,666)
FINANCING ACTIVITIES                                                          
  Repurchase of
  common shares for
  cancellation                   -              -  (13,504,414)    (3,983,136)
  Dividends paid       (2,049,310)              -   (4,118,643)              -
  Issuance of common
  shares                 1,534,239        263,539     3,924,820      3,165,584
                                                                              
CASH (USED IN) FROM
FINANCING ACTIVITIES     (515,071)        263,539  (13,698,237)      (817,552)
                                                                              
FOREIGN EXCHANGE
EFFECT ON CASH           (164,249)       (52,257)     (330,185)      (118,870)
                                                                              
INCREASE (DECREASE)
IN CASH AND CASH
EQUIVALENTS              1,508,718    (1,642,924)  (14,297,149)     15,545,406
                                                                              
CASH AND CASH
EQUIVALENTS,
BEGINNING OF PERIOD     29,606,280     47,055,071    45,412,147     29,866,741
                                                                              
CASH AND CASH
EQUIVALENTS, END OF
PERIOD               $  31,114,998   $ 45,412,147 $  31,114,998  $  45,412,147
                      

SOURCE Absolute Software Corporation

Contact:

Public Relations: 
Andrea Holland, HORN Group
andrea.holland@horngroup.com or 415-905-4009
or
Marina Guy, Absolute Software
mguy@absolute.com or 604.730.9851 x107

Investor Relations: 
Dave Mason, CFA, TMX|Equicom
dmason@equicomgroup.com or 416.815.0700 x237
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